Where to get best rate when exchanging currency

[modernliving]

Hi everyone,

I found some info online but prefer to get it from the experts here on TAG! I'll be exchanging USD (about $1,000 - $2,000) to yen. Where in Tokyo has the best currency exchange rate?

 

[Simonka]

-Travelex and Daikokuya have multiple branches in Tokyo
- SMBC, MUFG and Mizuho also offer currency exchange services, but work hours are limited.
- They don’t offer exceptionally different rates from each other.
- You might get better deals in USA (or the country you’re residing) before coming to Japan.
- You may use ATM’s here depending on your bank

Independent escorts on TAG accept USD.(most of them)

Most importantly, enjoy your trip!

 

[akasam]

Get an ATM card that refunds fees. It will make your international travel much easier.

 

[e-smile]

best rates I found are here
http://www.interbank.co.jp/ninja/

 

[BlackBlade]

Sort of unrelated but I set up the Suica express card on my iPhone. My ApplePay is connected to a US bank account... I can recharge my Suica express card using ApplePay and it seems to do so at the previous days close. So my exchange rate has been anywhere from 110 - 112 yen to the dollar. The best CX I found around Tokyo was about 108 and here is the real kicker. Because iTunes is just handling it as a regular transaction I don't seem to be charged and foreign transaction fees...

I know this isn't the same as cash but I have found very useful.

 

[meiji]

Get an ATM card that refunds fees. It will make your international travel much easier.

This one. There's plenty of bank or credit cards that don't charge fees for international transactions and some refund ATM fees even globally.

 

[ichigopantsu]

Get an ATM card that refunds fees. It will make your international travel much easier.

+1 for this point also. Just want to add that not all banks support Cirrus/Plus network withdrawals and many local banks don't. The ATMs you can usually count on being able to withdraw from your home account are either:

• Japan Post bank (can find at any post office)
• 7-11 bank (can find in 7-11s as well as various places around Tokyo also)

Citibank used to be on that list before they got bought out but I suspect the infrastructure is still there so I suspect Prestia by SMBC should be fine too - that's the brand the old Citibank branches are operating under now.

 

[CharlieSimms]

May be best to just have your Goldman wealth advisor keep a regular liquid position in yen set aside for you for when you do need to make a trip over. Avoids the hassle of having to worry about it and it’s always there for you when you might need it.

 

[NotEnoughCoffee]

The ATMs always give you the best rate when converting currency. It's more expensive at the airport, and even more expensive inside security check at the airport. The further away from the airport, the better the rates get, but never as good as the ATM. If your debit/ATM card have a withdrawal fee, just take out larger sums every time.